5-Minute Task: Review Your Beneficiaries

March 27, 2017

If it’s been awhile since you named or reviewed your beneficiaries, take a few minutes to make sure the right people will receive benefits or payments after your death. To review or change your beneficiaries on your Colorado PERA accounts, begin by logging in to your PERA account. 

Once you’re logged in, you can review/change the beneficiary for your PERA Defined Benefit (DB) Plan account, your PERAPlus 401(k) and PERAPlus 457 Plan accounts, and your Unum life insurance plan.

You may also call the numbers below and request a form be mailed to you: 

  • For your PERA DB Plan, call 1-800-759-7372.
  • For the PERAPlus plans, call 1-800-759-7372 and select the PERAPlus option. 
  • For Unum, call 1-866-277-1649.
  • For an older PERA life insurance policy administered by New York Life, Anthem Life, or Prudential, rather than Unum, call PERA at 1-800-759-7372.

 

Don’t Forget

If you are not yet retired, the person(s) who will receive an ongoing benefit from your Defined Benefit Plan account after your death is often determined by state law. That means your named beneficiary will only receive a PERA benefit if, for example, you have no spouse or minor- aged children to receive payment. 

Refer to PERA’s Survivor Benefits booklet for more information on when and to whom payments will be made by law.